Learn How - Willingness to Expand in India Can be a Deal of Profit
In addition to the advantages successively foresighted by the Indian economist is paving the road to its precision. Healthcare in today’s time has become one of the largest sectors of India in revenue and employment. Market research companies in India with their annual report proclaimed that healthcare industry of India is growing with briskest, due to its strengthening coverage services and increasing expenditure by public as well private players.
As healthcare market in india is one of the largest and fast-growing sectors, the industry out of the blues in 2020 is expect of reach USD 280 billion. With the growing population, it is expected that by 2030 India will announce 40 million jobs, which significantly can be foresighted according to stats that by the end of FY 2022, India is expected to reach 132.84 billion.
Private sector of India under healthcare industry is potentially spreading its wings with a force. Hitherto, the industry has prominently set its repute both at national at international level by competing with its peer competitors Asia and Western Europe.
The trend which prominently shapes today's industry is Telemedicine. There are major hospitals which are supporting telemedicine with public-private-partnerships (PPP).
If you’re a foreign investor, why will you invest in a healthcare sector of India.
Here are the advantages mentioned below that why you should invest in India.
● Healthcare Industry in India sees a threefold jump to reach 372bn by 2022
● NHP Scheme becomes the world’s largest government-funded program
● India plans to create 1 Mn skilled healthcare providers by 2022
● By 2020, India is expected to rank amongst the top 3 healthcare markets in terms of incremental growth
● By 2020, the healthcare information technology market is expected to grow 1.5 times from the current USD 1 bn
● By 2022, the diagnostics market is expected to grow at a CAGR of 20.4% to reach USD 32 bn from USD 5 bn in 2012
● 100% FDI is allowed under the automatic route for greenfield projects
● Investments in brownfield projects, up to 100% FDI is permitted under the government route
● USD 200 bn is expected to be spent on medical infrastructure by 2024
● Home-based care services to gain popularity as average life expectancy will cross 70 years by 2022
● 150,000 centers with a budget of USD 1.8 bn will make the healthcare system more accessible
● Robotic Process Automation (RPA) to improve the efficiency of healthcare workforce; reducing costs and creating the value proposition
● The hospital industry is expected to reach USD 132 bn by 2023 growing at a CAGR of 16-17%
● The medical tourism industry in India is expected to double its value
● The diagnostics industry in India is currently valued at USD 4 bn. The share of organized sector is almost 25% in this segment and is expected to grow more by 2022
● The primary care industry is currently valued at USD 13 bn and is expected to grow more by 2022
● Internet of Things - Internet of Medical things-based asset tracking & inventory management systems
● AI for keeping health records & providing the best possible treatment to patients at the right time
● Assistive Robotic Surgeries, Minimally Invasive Surgeries & predictive diagnosis are likely to be increased
Healthcare consulting firms in India are potentially helping foreign investors to step-in the Indian market. As India is the land of opportunities for the peoples who are gradually developing the medical device industry. With the recent research made by the consulting firms in India, they acknowledged that the country has become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostic facilities.
Tecnova as an India entry consulting and management firm which has assisted major global brands like Ferrari to establish in India. Now, seeing the healthcare industry booming, it has clasped its hand with one of the largest consulting firm in Asia allowing foreign investors to choose the market with omnifarious opportunities.